True Wealth Design LLC Increases Position in VeriSign, Inc. (NASDAQ:VRSN)

True Wealth Design LLC lifted its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 11.9% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 573 shares of the information services provider’s stock after buying an additional 61 shares during the period. True Wealth Design LLC’s holdings in VeriSign were worth $119,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of VRSN. State of Wyoming raised its stake in VeriSign by 55.2% during the fourth quarter. State of Wyoming now owns 2,149 shares of the information services provider’s stock worth $445,000 after purchasing an additional 764 shares during the period. Siemens Fonds Invest GmbH purchased a new position in VeriSign during the fourth quarter worth approximately $3,348,000. Shell Asset Management Co. raised its stake in VeriSign by 26.8% during the fourth quarter. Shell Asset Management Co. now owns 3,608 shares of the information services provider’s stock worth $747,000 after purchasing an additional 763 shares during the period. Rafferty Asset Management LLC raised its stake in VeriSign by 0.4% during the fourth quarter. Rafferty Asset Management LLC now owns 32,721 shares of the information services provider’s stock worth $6,772,000 after purchasing an additional 131 shares during the period. Finally, Raiffeisen Bank International AG purchased a new position in VeriSign during the fourth quarter worth approximately $6,035,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on VRSN shares. StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a research note on Saturday, April 12th. Robert W. Baird increased their price target on shares of VeriSign from $275.00 to $285.00 and gave the stock an “outperform” rating in a research note on Friday, April 25th. Finally, Citigroup increased their price objective on shares of VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th.

Insider Buying and Selling at VeriSign

In other news, Director Yehuda Ari Buchalter sold 600 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $283.79, for a total value of $170,274.00. Following the transaction, the director now directly owns 3,735 shares in the company, valued at approximately $1,059,955.65. This trade represents a 13.84% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John Calys sold 400 shares of the firm’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $281.97, for a total transaction of $112,788.00. Following the completion of the transaction, the senior vice president now owns 23,335 shares in the company, valued at approximately $6,579,769.95. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,447 shares of company stock worth $386,654 in the last ninety days. 0.84% of the stock is owned by insiders.

VeriSign Stock Up 0.5%

VeriSign stock opened at $283.14 on Friday. The firm has a fifty day moving average of $256.53 and a 200-day moving average of $224.11. The firm has a market capitalization of $26.59 billion, a P/E ratio of 35.39 and a beta of 0.80. VeriSign, Inc. has a 52-week low of $168.79 and a 52-week high of $288.95.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.10. The business had revenue of $402.30 million during the quarter, compared to analyst estimates of $400.44 million. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%. The business’s revenue was up 4.7% on a year-over-year basis. During the same period last year, the business earned $1.92 EPS.

VeriSign Dividend Announcement

The business also recently disclosed a — dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be paid a dividend of $0.77 per share. The ex-dividend date is Monday, May 19th. VeriSign’s dividend payout ratio (DPR) is 37.65%.

VeriSign Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.